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Odds against downstream deregulation - By Chijama Ogbu

 

Profile

Bar. Bello Mahmud: The New Registrar General for CAC

 

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No 2nd Term for YarÁdua – Billionaire Debtors Vow

 

Facts and figures

Federation Account: How They Share N332bn in October

 

The Sharing of N27.8bn on Exchange Rate difference in October 2009

 

List of Federal Perm. Secs and their States - Non from Bayelsa

 

List of Major Debtors in Nigeria

 

Exclusive Interview

No more Needless Borrowing in Public Offices - Aliyu Yelwa, Boss of Fiscal  Commission

 

Monetary

CBN Supports Deregulation, Allows ETB to Rectify Lapses

 

Communiqué No. 66 of the Monetary Policy Committee Meeting

 

List of Major Debtors in Nigeria

 

National News

SMEDAN Advises Small Businesses on Good Idea

 

Odey Inaugurates Panel on IWMF in Niger Delta

 

Finally FG, States Share $2bn from Excess Crude Account

Honours for EFCC Boss in USA

 

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Kano Spends N1bn on Sports Development as Governor bagged ‘Sardauna’

 

IDB advances N3.15bn loan to KDSG as Governor Approves N18mn for Training 

 

 

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Economic Confidential, August, 2009

FACTS AND FIGURES

 

SALARIES AND ALLOWANCES OF LEGISLATORS IN NIGERIA

The Revenue Mobilisation Allocation and Fiscal Commission has recently reviewed downward some allowances of political office holders including those in the Executive, Legislative and Judicial arms while it sustains the old salaries which are used for the computations of percentages for the allowances. In an analysis and computation of the percentages of the deduction by the Economic Confidential, the economic intelligence publication, indicates that Nigerian councillors are the worst hit in the new packages.

 

In the new package the Senate President would be receiving a total sum of N3,353,727.38 per annum, his monthly take home pay is N279, 477.28; the speaker annual total package is N2,105,543.50 which translates to N 175,461.96 per month. The Deputy Senate President now receives N3,117,375.10 which translate to N259,781.26 monthly while the Deputy Speaker receives N1,722,440 annually but translates to N143,536.67 per month. These four principal officers’ pays do not include allowances which the Federal Government would provide for them directly from the national treasury. The government is to take the responsibility for their accommodation, motor vehicle fuelling and maintenance, domestic staffs, entertainment and utilities (for electricity and phone calls) and newspapers.

 

The Economic Confidential also computes the total monthly pays for other legislators. A Senator now receives N759,900.00 and Member of House of Rep N661,737.50 monthly. At the State Assembly level the Speaker now receives N170,820.31 monthly, Deputy Speaker N 150,623.18 while a member of the state assembly goes home with N120,907.39 monthly.

 

The major casualty of the new pay packages are the legislators at the Local government level, known as councillors whose allowances have been reduced drastically by more than 300%. Presently the Leader of the legislative chamber in a local government will now receive N 152,118.75 monthly his deputy N147,825.00 while the councillor now goes home monthly with N88,675.53 without provision for some of the old perks. Most of the old entitlements councillors enjoyed in the previous packages have been cancelled or not to be provided by government. They include allowances for motor vehicle, Personal Assistant, Domestic Staff, utility, leave responsibility, legislative aide and even newspapers.

 

Table of Salaries and Allowances of Legislators in Nigeria

FEDERAL LEGISLATOR

S/N

FEDERAL LEGISLATORS

 BASIC SAL

 ACCOM.

 MOTOR

 PA

 DOM. STAFF

 ENTERT.

 UTILITIES

 LEAVE ALL.

 RESPONS. ALL.

 LEG. AIDES

 S. ADV

 NEWS P

 CONST. ALL.

 TOTAL

 MONTHLY

1

SENATE PRESIDENT

      2,484,242.50

 TBP

 TBP

 TBP

 TBP

 TBP

 TBP

 248,424.25

 NIL

 NIL

 3 PERSONS

 TBP

   3,105,303.13

   3,353,727.38

   279,477.28

2

SPEAKER

      2,447,110.00

 TBP

 TBP

 TBP

 TBP

 TBP

 TBP

 247,711.00

 NA

 NIL

 3 PERSONS

 TBP

   1,857,832.50

   2,105,543.50

   175,461.96

3

DEP. SEN. PRESIDENT

      2,309,166.75

 TBP

 TBP

 TBP

 TBP

 TBP

 TBP

 230,916.68

 NIL

 NIL

 NNIL

 TBP

   2,886,458.44

   3,117,375.11

   259,781.26

4

DEPUTY SPEAKER

      2,026,400.00

 TBP

 TBP

 TBP

 TBP

 TBP

 TBP

 202,640.00

 NA

 NIL

 NA

 TBP

   1,519,800.00

   1,722,440.00

   143,536.67

5

SENATORS

      2,026,400.00

   3,039,600.00

 1,013,200.00

 506,600.00

   1,013,200.00

 405,280.00

 202,640.00

 202,640.00

 NIL

 NIL

 NA

 202,640.00

   2,533,000.00

   9,118,800.00

   759,900.00

6

MEMBERS

      1,985,212.50

   2,977,818.75

    992,606.25

 496,303.13

      992,606.25

 397,042.50

 198,521.25

 198,521.25

 NIL

 NIL

 NIL

 198,521.25

   1,488,909.38

   7,940,850.00

   661,737.50

STATE LEGISLATORS

 

STATE LEGISLATORS

 BASIC SAL

 ACCOM.

 MOTOR

 PA

 DOM. STAFF

 ENTERT.

 UTILITIES

 LEAVE ALL.

 RESPONS. ALL.

 LEG. AIDES

 S. ADV

 NEWS P

 CONST. ALL.

 TOTAL

 MONTHLY

7

SPEAKER SHA

      1,639,875.00

 TBP

 TBP

 NA

 TBP

 TBP

 TBP

 NA

 NA

 2 AIDES

 2 PERSONS

 TBP

      409,968.75

   2,049,843.75

   170,820.31

8

DEPUTY SPEAKER SHA

      1,445,982.50

 TBP

 TBP

 NA

 TBP

 TBP

 TBP

 NA

 NA

 2 AIDES

 NIL

 TBP

      361,495.63

   1,807,478.13

   150,623.18

9

MEMBERS SHA

      1,337,225.00

 802335.00*

     26,744.40

 NA

        33,430.50

 NA

   13,372.20

 NA

 NIL

 2 AIDES

 NA

     6,686.10

        33,430.50

   1,450,888.70

   120,907.39

LOCAL GOVERNMENT LEGISLATORS                -

 

LGA/C LEGISLATORS

 BASIC SAL

 ACCOM.

 MOTOR

 PA

 DOM. STAFF

 ENTERT.

 UTILITIES

 LEAVE ALL.

 RESPONS. ALL.

 LEG. AIDES

 S. ADV

 NEWS P

 CONST. ALL.

 TOTAL

 MONTHLY

10

LEGISLATIVE LEADER

         811,300.00

      811,300.00

 CANCELLED

 NA

 NA

 NA

   81,130.00

 NIL

         81,130.00

 NA

 NIL

 NA

        40,565.00

   1,825,425.00

   152,118.75

11

DEP LEG. LEADER

         810,000.00

      810,000.00

 CANCELLED

 NA

 NA

 NA

   56,700.00

 NIL

         56,700.00

 NA

 NIL

 NA

        40,500.00

   1,773,900.00

   147,825.00

12

COUNCILORS

         760,076.00

      190,019.00

 CANCELLED

 NA

 NA

 NA

   76,007.60

 NIL

 NA

 NA

 NIL

 NA

        38,003.80

   1,064,106.40

     88,675.53

This Table is created by the Economic Confidential

 

 

NON-Monetised Packages for Nigeria’s Legislators

FEDERAL LEGISLATORS

 

S/N

CATEGORY

 MED.

 SA

 HARD ALL.

 SECURITY

 ROBE ALL.

 HOUSE MAINTS.

 S. ADV

 C O S

 NEWS P

 ANNUAL PAY

 MONTHLY PAY

1

SENATE PRESIDENT

 TBP

 TBP

 NA

 TBP

 TBP

 TBP

 3 PERSONS

 1 TBP

 TBP

   3,353,727.38

   279,477.28

2

SPEAKER

 TBP

 TBP

 NA

 TBP

 TBP

 TBP

 3 PERSONS

 1 TBP

 TBP

   2,105,543.50

   175,461.96

3

DEP. SEN. PRESIDENT

 TBP

 TBP

 NA

 TBP

 TBP

 TBP

 NIL

 NIL

 TBP

   3,117,375.11

   259,781.26

4

DEPUTY SPEAKER

 TBP

 TBP

 NA

 TBP

 TBP

 TBP

 NA

 NA

 TBP

   1,722,440.00

   143,536.67

5

SENATORS

 TBP

 TBP

 NA

 TBP

 NA

 NA

 NA

 NA

 202,640.00

   9,118,800.00

   759,900.00

6

MHR

 TBP

 TBP

 NA

 TBP

 NA

 NA

 NIL

 NIL

 198,521.25

   7,940,850.00

   661,737.50

STATE LEGISLATORS                -

 

 

STATE LEGISLATORS

 MED.

 SA

 HARD ALL.

 SECURITY

 ROBE ALL.

 HOUSE MAINTS.

 S. ADV

 C O S

 NEWS P

 ANNUAL PAY

 MONTHLY PAY

7

SPEAKER SHA

 TBP

 TBP

 NIL

 TBP

 TBP

 TBP

 2 PERSONS

 1 TBP

 TBP

   2,049,843.75

   170,820.31

8

DEPUTY SPEAKER SHA

 TBP

 TBP

 NIL

 TBP

 TBP

 TBP

 NIL

 NIL

 TBP

   1,807,478.13

   150,623.18

9

MEMBERS SHA

 TBP

 TBP

 NIL

 NA

 NA

 NA

 NA

 NA

     6,686.10

   1,450,888.70

   120,907.39

LOCAL GOVERNMENT LEGISLATORS                -

 

 

LGA/C LEGISLATORS

 MED.

 SA

 HARD ALL.

 SECURITY

 ROBE ALL.

 HOUSE MAINTS.

 S. ADV

 C O S

 NEWS P

 ANNUAL PAY

 MONTHLY PAY

10

LEGISLATIVE LEADER

 TBP

 NA

 NIL

 TBP

 NA

 NA

 NIL

 NIL

 NA

   1,825,425.00

   152,118.75

11

DEP LEG. LEADER

 TBP

 NA

 NIL

 TBP

 NA

 NA

 NIL

 NIL

 NA

   1,773,900.00

   147,825.00

12

COUNCILORS

 TBP

 NA

 NIL

 TBP

 NA

 NA

 NIL

 NIL

 NA

   1,064,106.40

     88,675.53

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 This Table is created by the Economic Confidential

 

NOTE:

TBP: To Be Provided by Government

NA: Not Available

NIL: Not to be Provided by Government

CANCEL: It was provided before but now cancelled

 

   

SPECIAL FOCUS

List of Major Debtors in Nigeria

 

List of Bad Debtors in Federal Mortgage Bank of Nigeria (FMBN)

 

NEMA@10: The Story So Far

 

Questions and Answers on the Examinations of the 14 Banks by CBN

 

FEATURES

Africa's Foreign Reserves: In Reserve For Who?By Chika Ezeanya

 

Churches and Mosques Should Pay taxes - Mcdonald Koiki

 

Deregulating Robbery in Nigeria By Kola Ibrahim

 

Understanding Monetary Policy By Abubakar Jimoh

 

The Making of Ideal Economic Policies By: Salim Salihu Muhammed

 

The Putrid Mess Also in CBN By Les Leba

 

Still on Early Warning Alert System in Nigeria By Yushau A. Shuaib

 

District 9 and the Can of Wild Paradox by Segun Imohiosen

 

Nigeria: Time to Check to the Drift By Dansulieman Mohammed

 

Golden Casket: Between Gani Fawehinmi and Wacko Jacko- By Yushau A. Shuaib

 

NIGERIA@49: Tracing the Economic Intervention- By Abubakar Jimoh

 

NASENI: Striving to end Nigeria’s reliance on foreign good – By Umar Kari

 

Macroeconomic Framework for an Independent Economic Recovery- Salihu Muhammad

 

When Sony Undermines Campaigns of Akunyili and Aoandoka- By McDonald koiki

 

Archetypal Resurgence: The Lamido Sanusi Revolution- By Segun Imohiose

 

Banks and Money Laundering- By Les Leba

 

Oronsaye’s Civil Service reform- By hussaini Sani kagara

 

New Policy in the Civil Service: Hypocrisy at Work? –By Tope Ajakaiye

More Features

 

TAX MATTERS

* Church and Mosque Not Exempted from Tax - FIRS

… Use of Consultants for Tax Collection is an Aberration

*Finance Minister Advocates Partnership on Tax Issues

*FIRS Reopens PAN, Vows to Prosecute Defaulters

*How We Generate N808bn in Tax Revenue Within Six Months- FIRS Boss

*FIRS Generates Taxpayers Numbers for Bank Customers

*Historical Milestone as Online Tax Payment Begins

*FIRS Seals Two Oil Companies Over $610m Tax Arrears

*Firms Owed Govt N260b in Taxes

*Tax Identification Number to Reduce Tax Evasion- FIRS Boss

*Revenue Agencies to Make Full Disclosure- Finance Minister

*FIRS Delists 2 Banks over Non-Remittance of Tax